EnergyWatch

US offshore wind tender surpasses USD 1.5bn – and is far from over

After roughly eight hours auctioning six sites offshore of New York and New Jersey, the price of one square kilometer tripled the hitherto record. Only a single bidder has withdrawn ahead of bidding resuming Thursday.

Photo: AWEA

The result of the US' last offshore wind site lease auction reverberated throughout the industry. After two days of intense bidding competition, the tender ended up reeling in USD 401.1m to the state treasury for three licenses in Massachusetts waters – for a price that prompted the then-director of the federal Bureau of Ocean Energy Management (BOEM) to say he was "blown away".

In the wake of the auction for New York Bight sites, even more outperforming superlatives will be needed to evaluate the outcome: The six licenses for the area off the coasts of New York and New Jersey will end up blowing the roughly three-year-old record over with hurricane force. After around eight hours and 21 bidding rounds, the consolidated bid price for the approximately 2,000 km2 sea area has reached up to USD 1.535bn.

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